More banks call for action on mortgages

Financial services groups SNS Reaal, ABN Amro and ING have given their support to efforts by Rabobank to kick start talks on the mortgage market, the Financieele Dagblad reports.

On Monday, Rabobank CEO Piet Moorland told the paper banks should be given more freedom to extend mortgages to people starting on the housing ladder.
The financial sector watchdog AFM has put tighter conditions on mortgage regulations, reducing the amount first time buyers can borrow. This, plus the continuing effect of the financial crisis, means the housing market is grinding to a halt.
Moerland wants the banks, ministers and regulators to get round the table and take decisions to breathe new life into the market.

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